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Energy

U.S. LNG capacity to jump 20% as Europe shifts away from Russia

Country set to become top exporter of the fuel this year

Liquefied natural gas storage tanks and a tanker at a Tokyo Electric Power power plant in Futtsu, near Tokyo.   © Reuters

HOUSTON, U.S. -- The U.S. will see its production capacity for liquefied natural gas surge 20% by the end of the year, becoming the world's top exporter of the fuel, helped by Europe's efforts to wean itself off Russian supplies.

Investments in new U.S. LNG facilities have risen for the first time in three years, lifting total capacity to 100 million tons this year. A new LNG plant on the Gulf Coast in Louisiana state will add a maximum capacity of 11 million tons.

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